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Suppose a gardener produces both tomatoes and squash in her garden. If the opportunity cost of one bushel of squash is 2/5 of a bushel of tomatoes, then the opportunity cost of 1 bushel of tomatoes is:
a. 2/5 bushel of squash
b. 5/2 bushel of squash
c. 2 bushels of squash
d. 5 bushels of squash
If income rises from 1000 to 1800 and consumption rises from 1100 to 1700 the marginal propensity to save.
A firm sells its product in a perfectly competitive market where other firms charge a price of $80 per unit. The firm’s total costs are C(Q) = 50 + 12Q + 2Q2. How much output should the firm produce in the short run? What price should the firm charge..
Assume that the Keynesian short-run aggregate supply curve is applicable. Elucidate the two factors that can cause the nation's real GDP to increase in the long run.
Elucidate how did it manifest itself. If the person received counter conditioning to correct the condition, Illustrate what were the results
If labor productivity grew at the rate of 1.4% per year Illustrate what would average hourly compensation be in the year.
Discuss the manner in which an analyst would compare the relative profitability of the two potato chip segments.
If my preferences are such to I am indifferent among apples also mangoes but I prefer mangoes to cantaloupe then draw my highest indifference curve.
Suppose a monopolist manufacturer sells his products through a monopolist retailer. The marginal cost of production is c = 5. Assume that retail demand is Q(p,s) = s(10-p)100, where s is retailer's level of effort to sell the product. The cost..
How would I plot a marginal product curve, say, given the number of workers on the x-axis and and the number of a certain product produced on the y-axis.
Intra-industry trade may be associated with a smoother adjustment process than inter-industry trade because
Review the discussion in the lesson regarding the financial crisis. Discuss each of the following points. Use sources from the ITT Tech Virtual Library to add to your answer.
Explain the difference between normative and positive economics. Determine which of these statements are normative and which are positive and explain why you place them in the normative or positive category.
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